Institutions are so afraid of liability that it's usually impossible to do *anything*
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Replying to @HbdNrx
What's really crazy is that the legal establishment barely notices fear of (illegitimate) liability--real or imagined--as a problem.
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Replying to @HbdNrx
Reasonable fear of reasonable liability Excess fear of reasonable liab Excess fear of unreasonable liab Reasonable fear of unreas liab
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Replying to @HbdNrx
The first of these leads to reasonable precautions. The second is normal risk aversion, but still suboptimal
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Replying to @HbdNrx
(. 0001% chance of something happening, but all anyone thinks is omg liability, what will happen to the insurance rates).
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Replying to @HbdNrx
Third is normally purely imagined liability, enabled by stories of frivolous cases. Fourth is reasonable fear of frivolous or dumb
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Replying to @HbdNrx
cases that the law is poorly equipped to deal with--paralyzation due to systemic flaws.
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Replying to @HbdNrx
True sovereignty eliminates most of these inefficiencies, at the cost of making externalities harder to deal with.
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